No change in average household incomes compared to 2007–08 (Media Release)

MEDIA RELEASE

30 August 2011

Embargoed: 11.30 am (Canberra time)

100/2011

No change in average household incomes compared to 2007–08

Averagereal (CPI adjusted) household incomes in 2009–10 have not shown any significant change over 2007–08 levels, according to the latest survey results released today by the Australian Bureau of Statistics (ABS). In real terms, there was no significant change for low, middle or high income households.

Since 2007–08, there has been a decline in the number of households whose main source of income is unincorporated business income and an increase in the number of households whose main source of income is government pensions and allowances.

People living in older households (where the reference person was aged 65 and over) had the lowest average incomes in 2009–10. Older people living alone were more likely than older couples to have government pensions and allowances as their main source of income (76% compared to 65%), while older couples were more likely to fully own their own home (84% compared to 72%).

Average incomes in capital cities were 19% above those outside metropolitan areas. There were also considerable differences in the average levels of income between the states and territories. Average incomes in the Australian Capital Territory, Western Australia and the Northern Territory (excluding very remote areas) were well above the national average and incomes in Tasmania and South Australiawere below the national average.

The wealthiest 20% of households in 2009–10 accounted for 62% of total household net worth, with average net worth of $2.2 million per household. The poorest 20% of households accounted for 1% of total household net worth and had an average net worth of $32,000 per household.